One of the world’s largest ferry operators — Canada’s BC Ferries — last week released its results for the fiscal year ended March 31, 2022.

The good news: traffic, revenue, net earnings and expenditures were all up. The not so good (and not so surprising) news is that financial results have still been lagging behind pre-pandemic levels.

During the year, BC Ferries carried 17.9 million passengers and 8.5 million vehicles, an increase of 37% and 26% per cent, respectively, compared to the prior year. While these increases are significant, passenger and vehicle traffic were 20% and 5% lower respectively compared to the same period in fiscal 2019, a pre-COVID 19 year.

“As we emerge from the pandemic, we are grateful to our employees for their commitment to put safety first, operate in the public interest, and ensure reliable ferry travel,” said Mark Collins, BC Ferries’ president and CEO. “We are excited to see people traveling with us again and are adding staff to meet the increase in demand for our service.”

In the year ended March 31, 2022, BC Ferries experienced a net loss of CAD 68.2 million (about US$53 million) prior to recognizing Safe Restart Funding. After recognizing CAD 102.3 million of this federal-provincial funding, net earnings were CAD 34.1 million, an increase of CAD 13.1 million compared to the previous year, which included CAD 186.0 million in Safe Restart Funding.

Revenue in the fiscal year was CAD 965.4 million, (about US$750 million) an increase of CAD 100.1 million or 12% compared to the prior year, primarily as a result of higher traffic volumes and net retail sales, partially offset by lower Safe Restart Funding.

Operating expenses in fiscal 2022 were CAD 868.0 million (about US$675 million), an increase CAD $88.2 million or 11% compared to the prior year. This increase is mainly due to increases in the number of sailings provided, staff required to provide more service, fuel and maintenance expenses.

Despite the pandemic, BC Ferries continued to make significant investments in new vessels, vessel upgrades, terminal infrastructures and information technology. Capital expenditures for fiscal 2022 totaled CAD 171.3 million (about US$133 million), up from CAD 122.0 million in the prior year.

BC Ferries is continuing to modernize its fleet and reduce its carbon footprint with the introduction of new ships. During fiscal 2022, four more battery-electric hybrid Island Class vessels and one more liquefied natural gas-fueled Salish Class vessel were delivered to BC Ferries.

Source: https://www.marinelog.com/passenger/ferries/bc-ferries-on-the-mend-but-numbers-still-lag-pre-pandemic-levels/

The history of the International Telecommunication Union (ITU), the United Nations agency for information and communication technologies (ICTs), is inextricably linked with that of maritime radiocommunications.

The theme of this year’s Day of the Seafarer, “Your voyage – then and now, share your journey”, inspired me to look back at ITU’s longstanding history of developing standards and regulations for maritime communications services and technologies, which are essential for ensuring safety and security at sea.

Maritime safety milestones

ITU’s “maritime voyage” began in the early 1900s. In 1906, the first International Radiotelegraph Conference established “SOS” in Morse code as the international maritime distress signal.

That same year, the maritime service regulations, annexed to the proceedings of the International Radiotelegraph Conference held in Berlin, instructed the International Radiotelegraphic Bureau to establish a list of radiotelegraphy stations, including coast stations and ship stations.

Then, in 1909, came the publication of the first volumes dedicated to maritime radiocommunications: the Official List of Radiotelegraph Stations, and Coast stations and ship stations.

In 1912, in response to the sinking of the Titanic, the International Radiotelegraph Conference agreed on a common frequency for ships’ radio distress signals. The conference also established regulations for ship radio operators to keep watch for distress calls – another major step forward for seafarer safety.

In 1927, the International Radiotelegraph Conference held in Washington, DC introduced the first provisions related to maritime publications into the Radio Regulations – the global treaty maintained by ITU to govern the use of radio frequencies globally. Shortly after, ITU began publishing its List of Ship Stations and List of Callsigns, also known as “List V.”

The publication now known as the List of Ship Stations and Maritime Mobile Service Identity Assignments contains crucial contact information and other administrative and operational data on over 900,000 shipborne radio stations around the world.

Today, List V remains the go-to maritime resource recognized by all 193 ITU Member States. Issued annually, it is widely used for day-to-day vessel operations, including ship-to-shore and ship-to-ship communications.

In 1967, the World Administrative Radio Conference adopted a resolution establishing a manual on mobile services and operations on the high seas. The first edition of the Manual for Use by the Maritime Mobile and Maritime Mobile-Satellite Services – commonly known as “the Maritime Manual” – was published in December 1968.

Volume 1 provides a comprehensive overview of maritime radio technologies, describes the Global Maritime Distress and Safety System (GMDSS) and other maritime operational procedures. In Volume 2, readers will find regulatory, technical, and operational texts related to maritime communications.

Modern maritime safety

Today, seafarers depend on terrestrial and satellite communications to carry out their responsibilities safely and effectively. These systems form the basis of the GMDSS which was jointly developed by the International Maritime Organization (IMO) and ITU. The GMDSS enables seafarers in distress to quickly alert search and rescue authorities ashore and nearby vessels, who can then co-ordinate assistance.

At successive World Radiocommunication Conferences, ITU Member States have taken important decisions to enhance safety at sea by improving the efficacy of spectrum use for maritime communication.

At WRC-07, for instance, Member States decided to consolidate and update some of the maritime service publications to ensure their quality and accuracy, keeping pace with evolving maritime technologies and enhanced safety protocols. Administrations are also obliged to notify ITU of any changes to their information contained in the publications on a regular basis.

The ship station and callsign lists were consolidated into a single List V publication, the first edition of which was issued in March 2011. Additionally, the List of Coast Stations and Special Service Stations, commonly known as List IV, isissued biannually. List IV and List V contain information that aims to help Seafarers worldwide to carry out general and emergency radiocommunications.

More recently, WRC-19 allocated additional spectrum to the GMDSS, allowing expanded coverage and enhanced technical capabilities. Among these was the addition of a non-geostationary satellite system, which significantly improves satellite distress and safety communications for seafarers in polar regions.

ITU also maintains the Maritime Mobile Access and Retrieval System (MARS), which is updated daily. MARS, created in 1994, includes information on more than 900,000 vessels and over 2,000 coast stations. Search and rescue authorities worldwide rely on the MARS database to resolve seaborne distress and safety alerts.

Thanks to these publications, seafarers can sail confidently knowing they have all the necessary guidance to correctly apply relevant radiocommunication procedures. Many of these are mandatory and must be followed to the letter – especially in distress situations.

Updates expected after WRC-23

The Maritime Manual is updated after the release of each new edition of the Radio Regulations, which happens after each World Radiocommunication Conference (WRC). The manual contains the most up to date information on new maritime radiocommunication, including the latest technological developments.

The upcoming WRC-23 will consider possible regulatory actions to support the further modernization of the Global Maritime Distress and Safety System (GMDSS) and the implementation of e-navigation. Those WRC-23 updates to the Radio Regulations will be reflected in the subsequent edition of the Maritime Manual.

As we celebrate this year’s Day of the Seafarer, ITU pays tribute to all seafarers. On behalf of our radiocommunication team, I wish to reaffirm ITU’s long-standing commitment to keeping seafarers safe and connected.

Source: https://www.itu.int/hub/2022/06/seafarer-day-itu-maritime-publications/

Seanergy Maritime Holdings announced that the application of United Maritime Corporation to list its common shares on the Nasdaq Capital Market has been approved. In addition, the registration statement on Form 20-F filed by United in connection with its spin-off from Seanergy has been declared effective by the U.S. Securities and Exchange Commission.

Through United, Seanergy intends to effect a spin-off of the Company’s oldest Capesize vessel, the M/V Gloriuship. United is expected to adopt a diversified business model, with investments across various maritime sectors.

Seanergy shareholders do not need to take any action to receive United shares to which they are entitled, and do not need to pay any consideration or surrender or exchange Seanergy common shares. Seanergy common shareholders will receive one United common share for every 118 Seanergy common shares held at the close of business on June 28, 2022, the record date for the distribution which coincides with the previously-announced record date for Seanergy’s cash dividend of $0.025 per share for the first quarter of 2022. The distribution of United common shares is expected to be made on or around July 5, 2022. United common shares are expected to commence trading on a standalone basis on the Nasdaq Capital Market on the first trading day after the date of distribution, under the ticker “USEA”.

Nasdaq has established an ex-distribution date for the distribution of United common shares of June 27, 2022. Beginning on that date, Seanergy shares will trade without an entitlement by the purchaser of such shares to United common shares distributed in connection with the spin-off. A “when-issued” trading market in United common shares will not be established, and United common shares will not begin trading on a standalone basis until the trading day following the date of distribution.

Fractional common shares of United will not be distributed. Instead, the distribution agent will aggregate fractional common shares into whole shares, sell such whole shares in the open market at prevailing rates promptly after United’s common shares commence trading on the Nasdaq Capital Market, and distribute the net cash proceeds from the sales pro rata to each holder who would otherwise have been entitled to receive fractional common shares in the distribution.

United has filed a registration statement on Form 20-F pursuant to the Securities Exchange Act of 1934 with the SEC, which includes a more detailed description of the terms of the spin-off. A copy of the registration statement on Form 20-F is available at www.sec.gov.